Key Market Indicators
American demand for crude oil is set to total 64.8 million metric tons in 2022, up 6.4% from 2021. This is the first year-on-year increase since 2007. Since then, demand has dropped by 0.8% on an annual basis. Meanwhile, American crude oil production is expected to reach 547.1 million tonnes of oil equivalent by 2026, an average increase of 1.6% year-on-year. This would mark a 2% increase since 1976.
